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Thursday, February 16, 2012

I think we can officially say the "auto bailout" officially worked now

Breaking news today: GM posts its highest profit ever: $7.6 billionGM earns its highest profit ever in 2011 with $7.6 billion; overseas losses cut 4Q profit So can we now, officially end the conversations and questions about the need, sense and logic of having "bailed out"--or invested in--GM, Detroit, Chrysler and the American auto workers? Please. Sure, we didn't want to do it and we didn't want to need to do it but the fact is, if we hadn't bailed them out, we would have lost that industry, for the most part, almost completely. Link to original story: http://www.google.com/hostednews/ap/article/ALeqM5gQQyKL1zj8FAOWVfwO1Et4tc1VOA?docId=7878364211444f549d5c2356de1fdce9